Marathon discovers additional mineralization outside current resource pit, 10m of 4.51 g/t PGM and gold and 0.43% copper



    TORONTO, Oct. 22 /CNW Telbec/ - Marathon PGM Corporation (MAR -- TSX)
("Marathon" or the "Company") is pleased to announce the most recent drill
results from the 2007 exploration campaign at the Company's 100% owned
Marathon PGM-Cu Project, located 10 km northwest of Marathon, Ontario.
    Phillip Walford, President and CEO, stated "Results from the 2007
campaign have been very consistent, which is of great benefit when building
new resources. With 180 drill holes to add to the resource this fall, and the
addition of drill intercepts outside of the existing resource, this is
expected to have a positive impact on the new resource calculation."
    Drilling accomplished a number of goals in providing definition of the
footwall and more importantly expanding the known extent of mineralization.
Holes M-07-393, 394, 395, and 397 were drilled in order to develop resources
south and west of the existing resource pit. Mineralization was intersected in
these holes up to 200 m beyond the existing resource pit, further
demonstrating the importance of these holes. Holes M-07-389, 399 and 402 were
drilled in order to test the western extent of mineralization at depth, which
thickens substantially - an aspect discovered as a result of drilling in 2006.
Holes M-07-389, 399 and 402 all successfully intersected extremely thick zones
(up to 120 m) of Main Zone mineralization and also discovered extensions of
mineralization below the existing resource pit.
    A number of intersections into the Magnetite horizon were encountered.
There are no resources estimates on this type of mineralization, which
overlies the deeper part of the mineralization and extends to the west. Some
of this material is included as waste in the current designed pit. As a result
of intercepts in this material, we anticipate an increase in the resource and
reduction in the overall strip ratio of the current pit.
    A large unexplored area open to the south of hole M-07-391 and north of
M-07-394 (please see diagram) will be drilled by Marathon in January of 2008
with the intent of further increasing the resource.
    Holes drilled outside of the existing resource intersected appreciable
mineralization above the current cut-off grade and thickness. Incorporation of
these holes into the existing resource data base are expected to further
increase beyond that which has been reported to date.

    
    Table 1: Significant Drill Hole Results
    -------------------------------------------------------------------------
    Hole     Zone       From   To  True      Pd     Pt      Au  Total     Cu
                          (m)  (m) Thick-  (g/t)  (g/t)   (g/t)   PGM     (%)
                                   ness                           and
                                     (m)                           Au
                                                                 (g/t)
    -------------------------------------------------------------------------
    M-07-388  Main       226  264    38    0.55   0.22    0.08   0.85   0.15
    -------------------------------------------------------------------------
    includes  Main       226  238    12    1.37   0.53    0.14   2.04   0.18
    -------------------------------------------------------------------------
    M-07-388  Main       258  264     6    0.24   0.06    0.08   0.37   0.25
    -------------------------------------------------------------------------
    M-07-389  Main       279  285     6    1.10   0.34    0.74   2.18   0.13
    -------------------------------------------------------------------------
    M-07-389  Main       293  299     6    0.58   0.24    0.24   1.06   0.27
    -------------------------------------------------------------------------
    M-07-390  Main       181  191    10    0.86   0.27    0.12   1.25   0.17
    -------------------------------------------------------------------------
    M-07-391  Main       243  257    14    2.54   0.59    0.18   3.31   0.35
    -------------------------------------------------------------------------
    M-07-391  Main       309  327    18    0.22   0.18    0.05   0.44   0.25
    -------------------------------------------------------------------------
    M-07-392  Magnetite   40   46     6    1.63   0.32    0.11   2.06   0.21
    -------------------------------------------------------------------------
    M-07-392  Main       310  380    70    0.23   0.09    0.07   0.39   0.20
    -------------------------------------------------------------------------
    M-07-392  includes   310  326    16    0.42   0.18    0.08   0.68   0.32
    -------------------------------------------------------------------------
    M-07-393  Main       166  172     6    0.37   0.08    0.05   0.49   0.26
    -------------------------------------------------------------------------
    M-07-394  Main       182  186     4    0.85   0.26    0.10   1.21   0.50
    -------------------------------------------------------------------------
    M-07-395  W          108  134    26    0.92   0.40    0.10   1.42   0.09
    -------------------------------------------------------------------------
    includes  W          108  114     6    2.76   0.95    0.11   3.82   0.21
    -------------------------------------------------------------------------
    M-07-396  Main       367  381    14    0.22   0.09    0.04   0.34   0.18
    -------------------------------------------------------------------------
    M-07-397  W          189  195     6    0.60   0.30    0.04   0.93   0.03
    -------------------------------------------------------------------------
    M-07-398  W           90   94     4    0.72   0.30    0.03   1.06   0.02
    -------------------------------------------------------------------------
    M-07-399  Magnetite   11   15     4    0.14   0.14    0.08   0.36   0.20
    -------------------------------------------------------------------------
    M-07-399  Magnetite   35   39     4    0.56   0.22    0.08   0.87   0.12
    -------------------------------------------------------------------------
    M-07-399  Magnetite   45   51     6    0.60   0.16    0.07   0.83   0.16
    -------------------------------------------------------------------------
    M-07-399  Main       255  259     4    0.81   0.49    0.11   1.41   0.06
    -------------------------------------------------------------------------
    M-07-399  Main       297  417   115    0.36   0.16    0.07   0.59   0.25
    -------------------------------------------------------------------------
    M-07-400  Main       190  196     6    1.06   0.28    0.12   1.45   0.25
    -------------------------------------------------------------------------
    M-07-400  Main       216  222     6    0.38   0.13    0.05   0.55   0.24
    -------------------------------------------------------------------------
    M-07-400  Main       232  256    22    0.36   0.11    0.06   0.52   0.27
    -------------------------------------------------------------------------
    M-07-401  Magnetite   44   52     8    0.39   0.21    0.08   0.68   0.17
    -------------------------------------------------------------------------
    M-07-401  Main       100  106     6    0.29   0.20    0.06   0.55   0.11
    -------------------------------------------------------------------------
    M-07-401  Main       128  134     6    0.55   0.17    0.07   0.79   0.14
    -------------------------------------------------------------------------
    M-07-402  Main       318  324     6    0.87   0.52    0.07   1.46   0.09
    -------------------------------------------------------------------------
    M-07-402  Main       330  344    13    2.74   0.70    0.21   3.65   0.29
    -------------------------------------------------------------------------
    M-07-402  Main       330  376    41    0.98   0.28    0.11   1.37   0.33
    -------------------------------------------------------------------------
    M-07-402  Main       334  344    10    3.46   0.79    0.27   4.51   0.43
    -------------------------------------------------------------------------
    M-07-402  Main       386  440    43    0.25   0.08    0.05   0.38   0.26
    -------------------------------------------------------------------------
    
    (To see a map of drillholes, please go to
    http://www.marathonpgm.com/newsmaps/2007-32.jpg)

    All of the samples were sent to Accurassay, an accredited laboratory in
Thunder Bay, Ontario, to be assayed using fire assay and other standard
techniques.
    All exploration work is being performed under the guidance and
supervision of Phillip C. Walford, President and Chief Executive Officer of
the Company, a professional geologist and Qualified Person as defined by
National Instrument 43-101. Mr. Walford has approved the contents of this
press release.

    About Marathon PGM Corporation

    The Company has a 100-per-cent interest in the Marathon PGM -- Cu
project, located about 10 kilometers north of Marathon, Ont. The project is
currently undergoing a definitive feasibility study and a 35,000 m drill
campaign. As announced previously, the company has completed a revised
preliminary economic assessment in compliance with the provisions of National
Instrument 43-101, showing a measured resource of 39.2 million tonnes
containing 1.6 million ounces of PGM and gold and 285 million pounds of
copper, and an indicated resource of 28.9 million tonnes containing
1.1 million ounces of PGM and gold and 178 million pounds of copper. An
additional low-grade resource was also identified in the report completed by
P&E Mining Consultants Inc. and filed on SEDAR on April 5, 2007.
    As part of its growth strategy, in April 2007, Marathon entered into an
option agreement with Gossan Resources on the Bird River Sill PGM and Cu-Ni
property, located in southeastern Manitoba. Prospecting and data compilation
of the Bird River property is focused over several key areas, including the
Coppermine, Page East, Page West and Galaxy Zones. Marathon can earn-in up to
a total 70% interest by completing a bankable feasibility study and arranging
project financing.
    In August 2007, Marathon acquired the Steel Mountain PGM and Cu-Ni
property in western Newfoundland and Labrador and has commenced the initial
phase of exploration on this 227.5 km2 property. The Company holds a 100%
interest in the Steel Mountain property.

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Except for
statements of historical fact relating to the Company, certain information
contained herein constitutes "forward-looking statements". Forward-looking
statements are frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made and are subject to a variety of
risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These risks and uncertainties include but are not limited to those
identified and reported in Management's Discussion and Analysis for the year
ended December 31, 2006. Circumstances or management's estimates or opinions
could change, and management disclaims any obligation to revise or update
forward-looking statements, whether for new information, future events or
otherwise. The reader is cautioned not to place undue reliance on
forward-looking statements.

    On Behalf of Marathon PGM:
    "Phillip C. Walford"
    Phillip C. Walford, P.Geo.
    President, Chief Executive Officer
    gen@marathonpgm.com
    Tel: +1.416.987.0711




For further information:

For further information: David Leng, P.Geo: dleng@marathonpgm.com, (416)
849-3432, Fax: (416) 861-1925; For media inquiries, please contact: Vanessa
Napoli, vnapoli@renmarkfinancial.com, (514) 939-3989

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